Cheap Homes for Rent in Tempe, AZ from $500 (167 Rentals)

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property at 445 S Dobson Rd

445 S Dobson Rd

MesaAZ85202
property at 6505 E Osborn Rd

6505 E Osborn Rd

ScottsdaleAZ85251
property at 1718 S Longmore

1718 S Longmore

MesaAZ85202
property at 5900 E Thomas Rd

5900 E Thomas Rd

ScottsdaleAZ85251
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 9605 S 48th St

9605 S 48th St

PhoenixAZ85044
property at 5312 E Taylor St

5312 E Taylor St

PhoenixAZ85008
property at 3313 N 68th St

3313 N 68th St

ScottsdaleAZ85251
Showing Results 1-50, Page 1 of 4

Tempe, AZ Local Guide

Cheapest Neighborhoods for Apartments in Tempe, AZ

Pricing Updated: 10/23/2025

Current apartment rentals in the Tempe, AZ area range in price from $680 to $22,935 with an overall median price of $3,079. The three Tempe neighborhoods with the lowest median rent pricing are Guadalupe at $948, South Tempe at $948, and Tally Ho Farms Raintree at $1,120. Here is today’s list of the top 7 neighborhoods with the lowest median pricing for Tempe Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Guadalupe$1,947$948126
South Tempe$1,999$948407
Tally Ho Farms Raintree$2,003$1,120139
The Lakes$2,065$951184
Alameda$2,099$6801286
Apache$2,255$680698
West Chandler$9,190$1,120341

Cheapest Available Tempe Apartments for Rent

 

The cheapest available apartment rental in Tempe, AZ is a Studio unit found at Vista Village on Van Buren in the South Phoenix neighborhood priced from $699. Valencia Park in the South Phoenix neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $775. Here is today’s list of the most affordable Tempe apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vista Village on Van BurenStudioStudio,1BA$699
Valencia ParkSonomaStudio,1BA$775
Papago VistaJunior One Bedroom1BR,1BA$825
MargoStudioStudio,1BA$829
The Atrium1x11BR,1BA$850
Hayden Terrace0x1Studio,1BA$850
Scottsdale GatewayBayStudio,1BA$853
TerrasolA11BR,1BA$891
Papago Gardens ApartmentsSantorini Villas - 1 Bedroom1BR,1BA$896

Best Value Apartments for Rent in Tempe, AZ

As of October 23, 2025 the best value apartment in the Tempe area is the $0.53 price per square foot Furnished Townhome Model at Lofts on 8th | Student Housing in the in the Downtown Tempe neighborhood starting from $999. The second greatest value Tempe apartment is the D1 PHPV Model at Nine20 Tempe starting at $1,099 with a $0.75 price per square foot in the Downtown Tempe neighborhood. Here is today’s list of the best values for Tempe apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Lofts on 8th | Student HousingFurnished Townhome4BR,4.5BA$0.53
Nine20 TempeD1 PHPV4BR,4BA$0.75
Villas at PapagoTwo Bedroom2BR,1BA$1.17
Avenue 8B12BR,2BA$1.00
La Costa at Dobson RanchC22BR,2BA$1.34
Vista ValleyB22BR,2BA$1.36
New Horizons2 Bed 2 Bath2BR,2BA$1.05
Corsican2 Bed - 1 Bath2BR,1BA$1.31
University ParkTwo Bedroom Two Bathroom Ensuite2BR,2BA$1.25
522 W Howe St, Unit 522522 W Howe St1BR,1BA$1.25

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Tempe, AZ

Ranked #2

Among cities in Arizona for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Tempe, AZ

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Tempe

What type of rentals are currently available in Tempe?

There are currently 1180 Apartments for Rent in Tempe, AZ with pricing that ranges from $680 to $22,935. There are also 849 Single Family Homes for rent, Condos, and Townhome rentals currently available in Tempe ranging from $550 to $25,000.

What is the current price range for Rental Homes in Tempe?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Tempe ranges from $550 to $25,000 with an average monthly rent of $2,519.

How much are larger Three and Four Bedroom Rentals in Tempe?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Tempe range from $775 to $22,935, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,000 to $14,995. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $680.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

decorative image for A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ article

A Local Experts Guide to the Top 10 Budget Friendly Neighborhoods in Phoenix, AZ

Written by: Andrew Jollett

I'm Andrew, your ApartmHomeLiving.com local expert for Phoenix. My earliest memories of Phoenix date back to the mid-2000s when 2 of my sisters moved there (one for work and the other for school).

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.